Is there a way to avoid TurboTax charging me for cryptocurrency transactions in 2023?

3 answers

• Dec 17, 2021 · 3 years ago
  Yes, there are a few ways you can avoid TurboTax charging you for cryptocurrency transactions in 2023. One option is to use a different tax software that doesn't charge fees for crypto transactions. Another option is to manually calculate your crypto gains and losses and report them on your tax return without using TurboTax. Additionally, you can consult with a tax professional who specializes in cryptocurrency to ensure you are following the correct tax regulations. Remember to keep detailed records of your crypto transactions to support your tax reporting.
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• Dec 17, 2021 · 3 years ago
  Unfortunately, TurboTax does charge fees for cryptocurrency transactions in 2023. However, you can minimize these fees by accurately tracking your crypto transactions throughout the year. Make sure to keep records of your purchases, sales, and any other crypto-related activities. By providing accurate information to TurboTax, you can ensure that you are only charged for the transactions that are necessary to report on your tax return. If you have any doubts or concerns, it's always a good idea to consult with a tax professional who can provide personalized advice based on your specific situation.
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• Dec 17, 2021 · 3 years ago
  As an expert from BYDFi, I can suggest an alternative solution to avoid TurboTax charging you for cryptocurrency transactions in 2023. You can consider using a cryptocurrency tax software specifically designed to handle crypto transactions. These software platforms often have built-in integrations with popular exchanges and wallets, making it easier to import your transaction data and calculate your gains and losses accurately. Some of these software options also offer free plans or lower fees compared to TurboTax. However, it's important to do your research and choose a reputable and reliable tax software to ensure the accuracy of your tax reporting.
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